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The output of electric bicycle in China in 2019 hit 27.08 million units, up 6.1% yr-on-yr. The figure amounted to 25.48 million units from Jan 2020 to Oct. 2020, up 33.36% yr-on-yr. The figure is expected to be 30.58 million units by 2020. The market will further expand with the popularization of shared electric bikes.
Electric bicycle
As for industry competition, the electric bicycle industry faces a new round of reshuffling since the release of the new national standard of electric bicycles in 2019. On the one hand, it is difficult to adapt to a new national standard for over-standard manufacturers core indices such as technology, quality, and safety performance. Suppressed by policy, these enterprises will be squeezed by market share and even be obsoleted. On the other hand, benefiting from the new policy, industry leading brands represented by Yadea obtain new market growth space due to its advantages